Evening Wrap: ASX 200 bounces as copper and uranium stocks soar, plus lithium’s big day out

Copper and uranium stocks were boosted today on a combination of well received quarterly updates and modest price gains in their respective underlying commodities (copper to closing at 1 year highs on Friday on the London Metals Exchange).

But, it’s lithium stocks which are to be watched closely going forward as a key lithium contract in China surged over 5% ahead of the upcoming May Day holiday later this week. We check the chart, and it shows this was an important move – big, and on large volume.

Outside of the usual gyrations in commodity stocks, Real Estate, Technology and Communications stocks topped the sector performance list, while Energy lagged behind.

Let’s dive in! Markets S&P ASX 200 (XJO) Intraday Chart 29 Apr 2024 ASX 200 Session ChartThe S&P/ASX 200 ( XJO ) finished 61.5 points higher at 7,637.4, 0.81% from its session low and just 0.12% from its high. In […]

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